On Friday, Elon Musk revealed that he has sold the social media platform X (formerly known as Twitter) to his AI company, xAI, in an all-stock transaction valued at $33 billion. Since both companies are privately held, they are not obligated to disclose financial details publicly.
In a post on X, Musk stated that the acquisition would “unlock immense potential by combining xAI’s advanced AI capabilities with X’s extensive global reach.”
The deal values xAI at $80 billion and X at $33 billion. Elon Musk, who is also the CEO of Tesla and SpaceX and an advisor to US President Donald Trump, originally acquired the platform—then known as Twitter—for $44 billion in 2022. After the acquisition, he made sweeping changes, including workforce reductions, policy overhauls on hate speech, misinformation, and user verification, and rebranding the platform as X.
A year after acquiring X, Elon Musk launched xAI, signaling his next big move into the artificial intelligence sector.
Musk shared on X, “xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution, and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”
He added, “The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge.”
Key Player in the AI Industry
Elon Musk has been actively establishing himself as a major force in the AI industry, drawing significant attention from both the Trump administration and the tech sector. Earlier this year, he led an investment group seeking to acquire OpenAI, the creator of ChatGPT, in a deal valued at nearly $100 billion—a move that further fueled his rivalry with OpenAI CEO Sam Altman.
While the exact advantages of X’s acquisition for Musk’s AI ambitions remain uncertain, the integration with X could provide xAI with a powerful platform to rapidly deploy its latest AI models and features to a vast, global audience. This move aligns with Musk’s vision to blend advanced AI capabilities with X’s extensive reach, paving the way for transformative digital experiences.
Read the latest and breaking Hindi WWW.HINDI.THEINSIGHTTODAY.COM and English news on WWW.THEINSIGHTTODAY.COM. Get unbiased, reliable, and fast updates on India and the world. Explore news from politics, sports, Bollywood, business, cities, lifestyle, astrology, spirituality, jobs, and more. Stay informed anytime, anywhere by downloading The Insight Today mobile app now! Connect us WhatsApp channel The Insight Today